Market Intelligence

Essex County, MA

Banking market profile · FDIC Summary of Deposits (SOD), June 30, 2025
Market Intelligence › Boston-Worcester-Providence, MA-RI-NH › Essex County

Essex County, Massachusetts, a core county of the Boston-Worcester-Providence, MA-RI-NH market, holds $31.6B in deposits across 34 insured institutions and 221 branches. Salem Five Cents Savings Bank is the largest deposit holder at 14.3% share. The top three banks hold 39% of deposits, which places the county in the Fragmented band. Deposits have grown 7.8% since 2020 while the branch count fell by 11.2%. It produces $48.4B of output, ranking #98 of the 1,523 ranked counties by economic output.

Economic scale
2024 Real GDP
$48.4B
#98 of 1,523
Population
826,653
#78 of 1,523
GDP per Capita
$58,501
#387 of 1,523
Deposit market
Deposits (SOD, 6/30/25)
$31.6B
#83 of 1,523
Deposits per Capita
$38,257
#205 of 1,523
Deposits per Branch
$143M
#223 of 1,523
Competitive structure
Insured Institutions
34
#64 of 1,523
Branches per 100k Pop.
26.7
#626 of 1,523
Median Deposits per Institution
$416M
The median deposits booked by a single institution in the county. #65 of 1,523. A lower figure means institutions typically hold smaller deposit positions here; it reflects local deposit presence, not an institution’s overall size. See Community & Regional Bank Share for institution scale.
Community & Regional Bank Share
64.2%
of county deposits held by banks with $100M to $100B in assets. #910 of 1,523. A higher share points to a market where small to mid-size institutions, the kind that compete on relationships and local decision-making, hold more ground.
Top-3 Banks’ Deposit Share: Fragmented
39%
The combined deposit share of the top three banks by deposits in the county. A lower share means deposits are spread across more institutions.

Ranks show where the county stands among the 1,523 ranked counties (those within a Combined or Metropolitan Statistical Area that have a branch). They describe relative position, not a rating of market quality or suitability.

Deposit trend

County Deposits (SOD, 2020 to 2025)+7.8% over 5 years
$29.3B
2020
$32.4B
2021
$33.5B
2022
$31.5B
2023
$31.1B
2024
$31.6B
2025

Branches: 249 in 2020 to 221 in 2025. Institutions: 35 to 34. Top-three share: 34% to 39%.

Institutions by deposits

InstitutionDepositsShareBranches5‑yr
deposits
Salem Five Cents Savings Bank$4.5B14.3%20+49%
TD Bank$4.2B13.2%21+10%
Eastern Bank$3.6B11.3%20+35%
Institution for Savings in Newburyport and Its Vicinity$3.3B10.3%13+10%
Bank of America$2.9B9.1%11-5%
Santander Bank$2.0B6.4%17+7%
North Shore Bank, a Co-operative Bank$1.4B4.3%13+10%
Citizens Bank$1.0B3.2%11+11%
Newburyport Five Cents Savings Bank$993M3.1%7+45%
Cape Ann Savings Bank$741M2.3%4+37%
Rockland Trust Company$740M2.3%6no 2020 presence
Manufacturers and Traders Trust Company$738M2.3%15-63%
BankProv$663M2.1%3-1%
Enterprise Bank and Trust Company$659M2.1%4+11%
Pentucket Bank$570M1.8%4+11%
Brookline Bank$490M1.5%6+23%
Haverhill Bank$465M1.5%6+26%
The National Grand Bank of Marblehead$367M1.2%2+17%
JPMorgan Chase Bank$347M1.1%9+3,332%
BankGloucester$313M1.0%3+12%
Reading Co-operative Bank$262M0.8%5+842%
Everett Co-operative Bank$262M0.8%1+277%
Marblehead Bank$226M0.7%3+5%
The Lowell Five Cent Savings Bank$202M0.6%2-3%
The Savings Bank$154M0.5%4-5%
Methuen Co-operative Bank$126M0.4%1+37%
PNC Bank$123M0.4%1no 2020 presence
Bank of New England$89M0.3%3-38%
Salem Co-operative Bank$79M0.2%1+20%
NorthEast Community Bank$61M0.2%1+51%
Winchester Savings Bank$48M0.2%1no 2020 presence
Eagle Bank$43M0.1%1+320%
First-Citizens Bank & Trust Company$22M0.1%1no 2020 presence
Wilmington Trust$0M0.0%1no 2020 presence

The 34 insured institutions with a branch presence in this county, per the FDIC Summary of Deposits, June 30, 2025. Five-year change compares the same institution’s county deposits in 2020 and 2025. Institutions are tracked by FDIC certificate number, and where an institution acquired another bank, the acquired bank’s prior deposits are folded into the baseline so the change reflects the combined, continuing franchise rather than reading as new. “No 2020 presence” means neither the institution nor a bank it later absorbed reported deposits in this county that year. Deposit figures are nominal and are not adjusted for inflation.

Part of the Boston-Worcester-Providence market

Essex County is one of 18 counties that make up the Boston-Worcester-Providence, MA-RI-NH market, a Combined Statistical Area (ranked #6 of 293 U.S. markets by economic output). It produces 6.7% of the market’s output and holds 4.8% of its deposits.

MeasureEssex CountyShare of parent market
2024 GDP$48.4B6.7%
Deposits$31.6B4.8%
Population826,6539.7%

View the full Boston-Worcester-Providence market profile →

Recruiting in Essex County

Deposits are spread across a competitive field of institutions, so the bankers worth recruiting are dispersed across more of them. Who holds the deposits, and how contested the market is, shapes both the runway for growth and the competition you would be recruiting against. We recruit commercial relationship managers, banking teams, and market leaders for banks building in markets like Essex County.

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Other counties in the Boston-Worcester-Providence market

All 293 markets and the 1,523 counties with a branch within a CSA or MSA are covered in the Market Intelligence resource. See the methodology for how each figure is built and when to expect updates, or the disclaimer for how this data should, and should not, be read.